U.S. Bank Premier Loan review
You'll need to be a customer for at least three months to qualify.
finder.com’s rating: 3.5 / 5.0
- Best for current U.S. Bank customers looking for competitive rates and no origination fee.
- Pick something else if you haven't been a customer for at least three months.
Max. Loan Amount
6.49% to 17.99%
Aliyyah Camp is a writer and personal finance blogger who helps readers compare personal, student, car and business loans. Aliyyah earned a BA in communication from the University of Pennsylvania and is based in New York, where she enjoys movies and running outdoors.
U.S. Bank’s personal loans are ideal if you’ve been a customer with the bank for at least three months — you won’t qualify otherwise. Its loans come with competitive rates that max out relatively low compared to other lenders out there. You can qualify for a rate discount if you’re using the loan for green home improvements. And it doesn’t charge any origination fees.
But its loans max out at $25,000 — not ideal for covering larger projects or expenses. And like many banks, it’s not the fastest option out there — it can take a few days to get your funds after approval.
Not sold on U.S. Bank? Compare your other options below.
First, am I eligible?
To be eligible for a loan with U.S. Bank, you’ll need to meet the following requirements:
- Excellent credit
- Current U.S. Bank member
- Have a verifiable source of income
- At least 18 years old
In addition, you must hold a Silver, Gold or Platinum account for at least 120 days before applying.
- Low maximum APR of 17.99%
- No origination fee
- Discounts for green home improvement loans
- No collateral required
- Lines of credit available
- Low maximum loan amounts
- Longer turnaround compared to online lenders
- Must have a Silver, Gold or Platinum account for three months
What is a U.S. Bank Premier Line of Credit?
If you need more flexibility in your spending and don’t want to take out a personal loan, you also have access to unsecured lines of credit up to $25,000. These allow you to pick and choose how much money you spend, and since they’re unsecured, you won’t need to provide any collateral. As of January 2020, the APR was set at 11.75%. However, it may vary from month to month based on the Prime Rate.
U.S. Bank makes it easy to access your funds, too. You can withdraw your funds from an ATM, at a branch or online, and U.S. Bank provides both Premier Line Access Checks and a Visa Access Card. There are no annual fees, and you’ll only be charged interest on the money you borrow.
Compare other personal loan providers
How do I apply?
- Visit the U.S. Bank website and click Loans & Credit Lines, then select Personal Loans and Lines.
- Select Apply now under the product you want to apply for.
- Enter your customer ID.
- Fill out the application with information about yourself, your employment and your income.
- Read over U.S. Bank’s disclosures and submit your application.
What information do I need to apply?
Have the following information on hand to speed up the application process:
- Social Security number
- Date of birth
- Proof of employment
- Monthly income and debt payments
- Total amount of your assets
What happens after I apply?
If approved, U.S. Bank will be in contact with you to finalize your loan application. You may be able to receive your funds within a few business days once you submit all necessary documentation.
How do repayments work with U.S. Bank Premier Loan?
You can repay your loan online, at a branch, by phone or through U.S. Bank’s mobile app. U.S. Bank has an autopay system that can help you avoid late fees. Your payment will be automatically deducted from your bank account.
Keep track of your loan account. If you notice anything wrong or have questions, reach out to U.S. Bank customer service.
Frequently asked questions
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